Prize bonds, bearer instruments to be registered

KARACHI: Pakistani authorities have assured International Monetary Fund (IMF) of registering prize bonds and other bearer instruments to eliminate the use of these instruments in potential illegal activities and tax avoidance. Read more »

Rs260 billion to be documented through withdrawal of Rs40,000 bearer bonds in first phase

KARACHI: The government will document an amount of Rs260 billion in first phase by withdrawing Rs40,000 denomination bonds. Read more »

SBP stops banks selling Rs40,000 prize bonds, issues procedure for conversion into registered bonds

KARACHI: State Bank of Pakistan (SBP) has stopped banks from issuing prize bond denomination of Rs40,000 with immediate effect and also issued instructions regarding conversion into registered bonds and encashment. Read more »

Non-ATL persons to pay double amount of withholding tax on prize bond winning

ISLAMABAD: The government has increased withholding tax by 100 percent on winning of prize bonds for persons not on Active Taxpayers List (ATL). Read more »

National Savings to issue registered prize bonds in all denominations

ISLAMABAD: The Central Directorate of National Savings (CDNS) to issue scripless registered prize bonds amongst all denominations with objective to document the economy. Read more »

Prize bonds investment soars by 17.07 percent to Rs929.64bn

KARACHI: The investment in prize bonds has soared to Rs929.64 billion by January 2019 as compared with Rs794.09 billion by the same month of the last year, showing an increase of 17.07... Read more »

Investment in registered prize bonds surges by 30pc

ISLAMABAD: The investment into premium prize bonds of Rs40,000 has registered significant increase of 30 percent owing to attractive avenue for persons having legitimate money. Read more »

Investment in unregistered prize bonds increases by 17pc to Rs922.78 billion

KARACHI: The investment in unregistered prize bonds has increased by 17 percent to Rs922.78 billion by month-end of December 2018 as against ending stock of Rs788.4 billion in the same month a... Read more »